US Cash Grains-Soybean, corn bids mostly flat to weaker
CHICAGO, Sept 18 (Reuters) -Basis bids for soybeans and corn were mostly steady to weaker in the U.S. Midwest on Wednesday as the harvest of both crops got rolling across more of the region, sending fresh grain supplies into elevators and processing plants.
* The soybean basis fell by 10 cents at a crushing plant in Lafayette, Indiana, and by 5 cents at a Decatur, Indiana, crusher.
* But dwindling supplies of old-crop grain supported basis bids in areas where the harvest had barely begun. The bean basis improved by 10 cents at a Toledo, Ohio, terminal.
* Corn basis bids fell by 3 to 4 cents a bushel at ethanol plants in Indiana and Iowa, spot checks showed.
* However, in Cedar Rapids, Iowa, one corn processor was offering a sizable premium for grain delivered by Sept. 22, an indication of scarce supplies. The corn harvest in Iowa was only 2% complete by Sunday, the USDA said in a weekly progress report. US/COR
* As of 12:06 p.m. CDT (1706 GMT), Chicago Board of Trade December corn futures CZ24 were down 3/4 cent at $4.11-3/4 per bushel while November soybeans SX24 were up 4-1/2 cents at $10.10-1/2 a bushel. Traders awaited an interest rate decision due from the Federal Reserve at 1 p.m. CDT (1800 GMT). GRA/
Basis values are quoted against CBOT futures in cts/bushel:
ELEVATORS | |||||||||
CORN | SOYBEANS | ||||||||
CINCINNATI OH | -51 | + | Z | UNC | -67 | + | X | DN 1 | |
BURNS HARBOR IN | UNQ | UNC | UNQ | UNC | |||||
DECATUR IN | UNQ | UNC | |||||||
DES MOINES IA | UNQ | UNC | |||||||
LINCOLN NE | -20 | + | Z | UNC | |||||
PROCESSORS | |||||||||
CORN | SOYBEANS | ||||||||
DECATUR IL | -18 | + | Z | UNC | -20 | + | X | UNC | |
DECATUR IN | -38 | + | X | DN 5 | |||||
MORRISTOWN IN | -35 | + | X | UNC | |||||
LAFAYETTE IN | -45 | + | X | DN 10 | |||||
CEDAR RAPIDS IA | +25 | + | Z | UNC | -40 | + | X | UNC | |
COUNCIL BLUFFS IA | -25 | + | X | UNC | |||||
LINCOLN NE | -25 | + | X | UNC | |||||
BLAIR NE | +10 | + | Z | UNC | |||||
RIVER TERMINALS | |||||||||
CORN | SOYBEANS | ||||||||
TOLEDO OH | -55 | + | Z | UNC | -55 | + | X | UP 10 | |
SENECA IL | -40 | + | Z | UNC | -40 | + | X | UNC | |
SAVANNA IL | -31 | + | Z | UNC | -56 | + | X | UNC | |
DAVENPORT IA | -25 | + | Z | UNC | -62 | + | X | UNC | |
ETHANOL PLANTS | |||||||||
LINDEN IN | -40 | + | Z | UNC | |||||
UNION CITY IN | -50 | + | Z | DN 3 | |||||
ANNAWAN IL | -30 | + | Z | UNC | |||||
COUNCIL BLUFFS IA | -22 | + | Z | DN 4 | |||||
SRW WHEAT | |||||||||
TOLEDO OH | -45 | + | Z | UNC | |||||
CINCINNATI OH | UNQ | UNC | |||||||
DECATUR IN | -75 | + | Z | UNC | |||||
BURNS HARBOR IN | UNQ | UNC |
NOTE: 0 = option price, UNC = Unchanged, UNQ = Unquoted
NC = Not comparable, DPI = Delayed Price, N/A = Not available,
F = January, H = March, K = May, N = July
Q = August, U = September, X = November, Z = December
--------------------------------------------------------
LINKS: 0#USCSHGRN-PM
For U.S. forward basis spreadsheets, please click:
CORN/BASIS, SOYA/BASIS, WHEAT/BASIS, MILO/BASIS
- CBOT corn report COR/
- CBOT soybean report SOY/C
- CBOT wheat report WHE/C
- U.S. grain barge freight values BG/US
- U.S. Midwest cash grain PM GRA/PM
- U.S. CIF/FOB Gulf Grain GRA/F
Reporting by Julie Ingwersen; Editing by Lisa Shumaker
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
